Coinbase: ‘The bull thesis is the long-term crypto adoption,’ analyst says
- Date: 25-Apr-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Coinbase: ‘The bull thesis is the long-term crypto adoption,’ analyst says
Cryptocurrency trading platform Coinbase (COIN) continues to have a "bull thesis" even amid a crypto market sell-off, according to Owen Lau, Oppenheimer executive director and senior analyst.
"The bull thesis is the long-term crypto adoption," Lau said on Yahoo Finance Live this week (video above). "[That's] number one thing the market has not given Coinbase credit, it's on the crypto adoption longer term."
According to FactSet, stocks of crypto-focused companies are 60% off their highs so far this year, as Coinbase is down 40% year to date.